Elliot Wave confirmed, leads to a bullish conclusion!
Yesterday it wasn't clear whether
1. Wave 1 ended at $8700, and wave 3 ended at $9150, and we were therefore on Wave 4
or
2. Wave 1 ended at $9100, and were therefore on wave 2.
Given that the corrective wave ended at $8300, that means it has to be wave 2 since wave 3 cannot retrace into wave 1.
It looks like We are currently on Wave 3, and it looks like Subwave 1 of Wave 3 ended at $8765. It looks like we're on corrective Subwave 2 of Wave 3, which will probably end around $9400-$9500.
Wave 3 is unlikely to end at the resistance point of $9350, because that would mean that Wave 4 would have to end higher than $9150 (wave 1) which would make wave 4 very shallow. Therefore I have Wave 3 ending past $9400 - possibly $9600, $9800 or even 10k.
1. Wave 1 ended at $8700, and wave 3 ended at $9150, and we were therefore on Wave 4
or
2. Wave 1 ended at $9100, and were therefore on wave 2.
Given that the corrective wave ended at $8300, that means it has to be wave 2 since wave 3 cannot retrace into wave 1.
It looks like We are currently on Wave 3, and it looks like Subwave 1 of Wave 3 ended at $8765. It looks like we're on corrective Subwave 2 of Wave 3, which will probably end around $9400-$9500.
Wave 3 is unlikely to end at the resistance point of $9350, because that would mean that Wave 4 would have to end higher than $9150 (wave 1) which would make wave 4 very shallow. Therefore I have Wave 3 ending past $9400 - possibly $9600, $9800 or even 10k.
Catatan
I meant "wave 4 cannot retrace into wave 1" - typo
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.